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May 24, 2010

Ship manager sees growing interest in single-hull tankers

Hong Kong headquartered Accord Shipmanagement is forecasting a surge of interest in single hull tankers across the world as the vessels are phased out this year.

The company explains that a revised IMO regulation allows the use of single hull vessels as long as the flag administration sanctions the vessel for this purpose. Vessels cannot be older than 25 years and must pass the Condition Assessment Scheme administered by the vessel's flag.

'We are receiving enquiries from countries around the world where owners want to utilize single hull tankers in their territorial waters for transhipment purposes. Demand is mostly for use in the crude oil sector," says Sanjay Shesh, Managing Director of Accord Shipmanagement.

"We are working with owners in India and Nigeria who want to use the vessels to transship oil to and from smaller lighters due to draft restrictions in river estuaries or tidal ports. We've also had enquiries from Latin America," he says. "Accord has many older vessels under its management and well maintained vessels with proper supervision can have an extended life as transshipment vessels."


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